SahodPH

Personal Loan Calculator

Plan your finances by calculating your monthly payments for personal loans, salary loans, or digital lending platforms.

Loan Details

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Total Loan Amount₱0.00
Estimated Monthly Amortization₱0.00
Total Principal
₱0.00
Total Interest
₱0.00
Total Amount to Pay₱0.00
*computed based on add-on rate

Understanding Personal Loans

Need a roof fixed? A hospital bill paid? Maybe you want to crush that maxed-out credit card before the interest eats you alive. That's where personal loans come in. They give you cash. Fast. But blind borrowing is dangerous. Our Personal Loan Calculator strips away the guesswork, showing you the estimated monthly hit to your wallet so you don't end up drowning in payments.

Types of Personal Loans in the Philippines

1. SSS Salary Loan

  • Best For: Regular private-sector workers. You need 36 posted monthly contributions under your belt (and 6 in the last 12 months).
  • Rates: Dirt cheap. Just 10% per annum on a diminishing balance.
  • Terms: Pay it off over 24 months.
  • Pros: Almost guaranteed approval. Zero collateral. Best of all? HR deducts it directly from your paycheck. You won't even miss the cash.

2. Bank Personal Loans

  • Best For: Big-ticket items. Think weddings, a down payment on a car, or home repairs. Amounts range from ₱20,000 up to a whopping ₱2,000,000.
  • Rates: Expect 1.2% to 2% add-on rate per month. That actually spikes to a 25%–40% effective annual interest rate.
  • Terms: Locked in for 12 to 36 months.
  • Requirements: Tough. Banks want your soul. You'll need a spotless credit history, ITRs, payslips, and usually an active principal credit card older than a year.

3. Digital Apps & Fintech Loans

  • Best For: Emergency micro-loans (₱1,000 to ₱50,000). Perfect for surviving Petsa de Peligro when your wallet is running on fumes.
  • Rates: Punishing. You're looking at 3% to 5% per month or even worse.
  • Terms: Blink and it's due. Repayment happens in 15 days up to 6 months.
  • Pros: Lightning-fast cash. They check your digital footprint, scan a valid ID, and wire the money. No towering stack of paperwork.

How to Use the Personal Loan Calculator

  1. Loan Amount: Type in the exact cash you plan to borrow.
  2. Interest Rate: Did the bank hand you a 1.2% monthly add-on rate? Choose Monthly and plug that exact number in. Done.
  3. Loan Term: How long are you trapped with this debt? Enter the months or years.
  4. Processing Fees: Heads up. Lenders often skim a fee (say, ₱1,500) straight off the top before handing you the cash. You still pay interest on the full loan amount.

Smart Borrowing Tips

🚨
Dodge the Loan Sharks (Predatory Lending Apps)Does the app demand access to your contacts or photo gallery? Run. Unregulated lenders use this data to text your family and coworkers if you miss a payment. Stick to SEC-registered banks. Always.
💡
Watch Out for Hidden Fees.Lenders swipe their processing fees before you even see the money. Borrow ₱50,000 with a ₱1,500 fee? Your bank account only gets ₱48,500. But make no mistake—you still owe the full ₱50,000 plus interest. Pad your loan amount to cover the gap.

How is this calculated? (The Methodology)

Personal loans typically use the Add-On Rate Method. This means the total interest is computed based on the original loan amount, regardless of the fact that your principal balance decreases over time.

The formula we use is:
Total Interest = Principal × Monthly Interest Rate × Loan Term in Months
Total Payment = Principal + Total Interest
Monthly Amortization = Total Payment / Loan Term in Months

Disclaimer & Methodology

The results provided by this calculator are estimates based on independent research. While we strive for accuracy, this tool should not be considered as a substitute for professional financial or tax advice. Please consult with a certified professional (such as a CPA or financial advisor) before making any major financial decisions.

Our calculations are based on the following laws and guidelines:
  • Truth in Lending Act (R.A. 3765)
Found an issue? We continuously update our tools. If you spot an error or have feedback, please report a bug.